Security incidents in Puerto Vallarta in late February have triggered a sharp rebooking wave away from Mexico, with the vast majority of affected travelers choosing entirely different destinations rather than rescheduling.

Roughly 90 percent of travelers who canceled Mexico trips are not rebooking Mexico for a later date. Instead, they are shifting to Caribbean and Central American alternatives, driving booking increases of approximately 50 percent year-over-year in those regions.

The Dominican Republic, Jamaica, Costa Rica, and Turks and Caicos are absorbing much of the redirected demand. All-inclusive resort chains report full or near-full occupancy through the spring season at Caribbean properties.

Hyatt's recent addition of 20-plus Bahia Principe all-inclusive resorts in the Caribbean and Mexico gives loyalty program members more options, though availability at Caribbean locations is tightening fast.

Mexico's Cancun and Riviera Maya corridors have not seen the same level of cancellations as Pacific coast destinations. The divide reflects travelers' geographic risk assessment — Atlantic-side Mexico resorts are perceived as more insulated from the incidents that affected the Pacific coast.